How can it be an exit strategy when he still the largest shareholder in the company, plenty of owners take some money off the table at ipo stage,
but to say he has dumped and ran is just nonsense, i bet he is not celebrating tonight, but i think he would be mightly pissed off that it was not supported by the brokers who floated it.
Any talk that this tanked because the property market price rices have peaked is just plain wrong,
this is a numbers game, the more listings the more profit, according to the company, they do better when the market is not rising as fast,
the market being what it is, chooses to value it today at what it has, but i wouldn't bet long term against Mcgrath , he is a skilful player who has real vision, what price do you put on a company that is expected to grow at 15% this year.
Australians have love affair with real estate, also the inbound market from Asia is huge, every time a commentator says the market is about to collapse they are left with egg on their faces, our interest rates being what they are is extremely conducive to a firm market, and Mcgraths will be there clipping their fair share of tickets.
MEA Price at posting:
$1.84 Sentiment: Hold Disclosure: Held
